Rates are mixed as housing market tries to anticipate direction.
This week both Freddie Mac and Mortgage Bankers Association (MBA) reported a decline for adjustable rate mortgages, while fixed rate mortgages slightly increased. According to experts like Frank Nothaft, Freddie Mac Vice President and Chief Economist, the recent mixed mortgage rates are indicators of steady growth in the coming months. In an article for MortageNewsDaily.com, he went on to predict that “a flurry of reports will provide further readings on the strength of the housing market and economic conditions. Primarily among these will be the first estimate of fourth quarter GDP growth, and we could see interest rates change in response.’